SEC regulatory proposal marks ‘important’ step forward from ‘inapt’ crypto rules: Commissioner Peirce
“Crypto mom” Hester Peirce praised the SEC’s proposed crypto regime, published days after the Senate failed to pass the CLARITY Act, the US’ first comprehensive industry framework.
Hester Peirce, a prominent figure in cryptocurrency regulation, has hailed the Securities and Exchange Commission's (SEC) proposed crypto regime as a significant improvement over the "inapt" rules that have plagued the industry. This new framework, announced on Tuesday, aims to establish clear, enforceable rules for digital asset offerings, marking a crucial step towards providing better protections for investors.
Peirce stated that after years of struggling with inadequate SEC rules, the new guidelines are a welcome development, bringing "clear, sensible, and enforceable" regulations to the crypto space. SEC Chairman Paul S. Atkins echoed these sentiments, emphasizing that the agency's previous enforcement-heavy approach has driven investments overseas, limiting the types of protections investors can expect within the United States.
The SEC's proposal came in the wake of the Senate's failure to pass the Digital Asset Market Clarity (CLARITY) Act, a comprehensive legislative framework for crypto regulation that was intended to fill the regulatory void left by the absence of clear guidelines from the SEC.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
